Thursday, May 9, 2013

An Object Lesson in Corporate Collusion Against Labor - Zuckerberg Gates et al fight for H1B immigration

You would think Zuckerberg would have read a little Karl Marx in college, this is exactly what Marx talked about:  corporate leaders will ALWAYS collude against labor to drive down wages, so here we go again ad nauseam:


"Less than a year after Facebook (FB) CEO Mark Zuckerberg was criticized for the company’s botched IPO, he’s back in the hot seat again, this time for what some consider a political misstep.
FWD.us, the nonprofit group he founded along with other tech leaders like Google’s (GOOG) Eric Schmidt, Microsoft’s (MSFT) Bill Gates and LinkedIn’s (LNKD) Reid Hoffman to promote comprehensive immigration reform, has been running ads supporting the Keystone Pipeline, oil drilling in the Artic and opposing Obamacare."

Tuesday, April 30, 2013

Algorithms Replacing Analysts & Investors

"Can anything change this glide path to an ever more technology-based system of stock analysis?" Colas asked in his note. "I can only think of one: a very large system failure that causes a recession in the U.S." 

 

Algorithms Replacing Analysts & Investors

Computerized algorithms are quickly replacing single-stock analysts and investors, leading to big changes in the way the stock market will value companies and increasing the chance that software glitches or hack attacks will jeopardize market stability.
Technological forces-including high-frequency trading, an explosion in exchange-traded funds and the proliferation of free information via social media-are behind this seismic shift, according to Nicholas Colas of ConvergEx Group.
"The changes that started with high-frequency and algorithmic trading are just the first step to an entirely different process of determining stock prices," Colas wrote in a sweeping note to clients Monday. "Will an equity market running on algorithmic autopilot serve to tie the managers of capital (senior executives) to the ultimate owners (shareholders) as robustly as one dominated by flesh-and-blood money managers? It seems a stretch to think so."
In other words, we've come a long way from the days of the Buttonwood tree and Benjamin Graham.
Computers and decimalization have chipped away at the ranks of human traders in the past decade. Now, smarter machines are taking aim at the very people who analyze a company's merits and who make buying and selling decisions based on that analysis.
"I spoke with a high-ranking member of the trading community this weekend," said Michael Murphy of Rosecliff Capital, a fundamentally geared hedge fund. "His large firm sees an end of stock-picking. They see passive, ETF-style investing as the new normal."
Exchange-traded funds, which blindly buy whole groups of securities or futures as easy as single stock, have garnered $65 billion of inflows this year alone, while traditional equity mutual funds haven't seen a three-month period of inflows "in years," Colas said.
On top of that, layer algorithms executing trades in milliseconds based on complicated fundamental and technical models, and simply front-running people before the human eye can read company or government news releases.
This kind of trading accounts for up to 70 percent of volume on some days with the full support of exchanges, which allow the purveyors of this trading to have their servers to be located right next to theirs so the high speed action can take place.
"It depends on your time horizon for investment," said Tony Wible, a media stock analyst for research firm Janney Montgomery Scott. "I think the number of permutations gets harder for machines the longer out one goes."
Some investors are already throwing up their hands at what they see as a market that is so detached from fundamentals and simply based on computers owned by hedge funds pinging each other back and forth.
"There's just no new names, no new energy, no new opportunities, and that's a problem," said Mark Cuban, an avid trader, entrepreneur and owner of the Dallas Mavericks. "That's a reflection of the lack of trust, the fact that we don't know what business the markets are in, and there's so much algorithmic trading and technology-driven trading it's created downstream problems."
Earlier this month, The Associated Press' Twitter account was hacked . The anonymous group sent a message styled like a headline that there had been two explosions at the White House. It sent markets reeling for four minutes as some traders say algorithms picked up on the tweet first, or at the very least they started to instantly sell when the market ticked lower.
This follows the so-called flash crash in May 2010 that sent the Dow Jones Industrial Average (Dow Jones Global Indexes: .DJI) down 1,000 points in a matter of moments. The cause of that event is still not totally known, but high-frequency trading certainly played a part, most say.
It isn't just machines killing the analyst star. Social media has made keeping information behind a paywall for investment banks virtually impossible. It's also created a community of analysts on Twitter and other social networks (many of them former professionals) giving away their analysis for free.
"People that want to be tapped in now follow the right people on Twitter and obviously other networks like Stocktwits which offer communication, context and community," wrote Howard Lindzon, the founder of StockTwits.com, in a blog post. "Everyone is connected, not just the people 'in the know.' Of course with everyone 'holding hands' in this new world, the reactions like the AP hacking will be more volatile and the recoveries that we saw after, just as fast."
That could be the happy ending to this story. After a rough transition period, social media eventually reinvigorates fundamental analysis amongst the people, allowing anyone with a computer to capture big followings and become the Peter Lynch of tomorrow.
Under this scenario, capital will be guided to its most efficient place through the ultimate free marketplace where the information playing field is level between participants.
But this assumes there will be enough homegrown analysts and retail traders to outweigh the incredible boom in electronic trading on Wall Street. This could be an optimistic view.
"Can anything change this glide path to an ever more technology-based system of stock analysis?" Colas asked in his note. "I can only think of one: a very large system failure that causes a recession in the U.S."
For the best market insight, catch " Fast Money " at 5 p.m. ET, and the " Halftime Report " at 12 noon ET each weekday on CNBC. Follow @CNBCMelloy on Twitter.

Tuesday, April 16, 2013

Retail Investors Stay Away from Wall Street - High Frequency Trading Dominates Volume

Gold settled at its lowest level since February 2011 and the major indices were off more than 1% on Monday in a lack of confidence after the Dow and S&P 500 hit their highest levels ever last week, evidence that enthusiasm for stocks on Main Street remains muted at best.
Oh sure, there are plenty of stories about retail investors “rushing” back into the market but such analysis fails to put the recent trend into perspective.
In the first quarter, inflows into equity mutual funds totaled $62.5 billion, according to Lipper. If this pace keeps up, 2013 inflows would be the highest since 2000, according to CNN Money.
By comparison, approximately $445 billion came out of equity mutual funds from 2007 to 2012. And after a very strong start in January, inflows dried up in February suggesting investors will be quick to head for the exits at the first sign of trouble.
Indeed, Monday’s stock selloff and rout in gold are almost certain to test any recent excitement for investing.
Many reasons have been proffered for investors’ reticence to embrace the rally, notably: a still sluggish economy, high unemployment, falling median household income, fresh scars from the Great Recession, as well as bad memories of the bursting of the Dot.com and housing bubbles.
Another factor, one not easy to measure, may be the biggest contributor of all: Trust, or lack thereof.
In sum, investors don’t have faith in the rally because they don’t have faith in the market itself. According to the Chicago Booth/Kellogg School Financial Trust Index, more than half of Americans (58%) think it's likely that the stock market will drop by more than 30% in the next 12 months while only 22% say they trust the financial system.
Wall Street Scandals: The Beat Goes On
Last week brought more fodder that the game is rigged.
First, a former KPMG partner, Scott London, admitted to passing on insider information about two of his top clients, Herbalife and Skechers USA. Government authorities believe London may have also passed along insider information about Deckers Outdoor as well as pending acquisitions of RSC Holdings and Pacific Capital Bancorp.
This was a pretty classic insider trading violation and done in a ham-handed way, suggesting both a lack of sophistication among the participants and little fear of getting caught.
In recent years, the government prosecuted one-time hedge fund giant Raj Rajaratnam and his alleged tipsters, including former Goldman board member Rajat Gupta for insider trading. This year, the Fed is targeting SAC Capital’s Steven Cohen, one of the world’s most successful (and wealthy) hedge fund managers.
Such investigations are, in part, designed to send a message to investors that the Wall Street “cops” are on the beat and will restore faith in the market, similar to the “perp walks” of the early 2000s after the scandals at Enron, Worldcom, Adelphia and others.
Still, I suspect one the takeaway from the London-KPMG case is that “run of the mill” sharing of insider info remains alive and well. In related news, reports last week that former Enron CEO Jeff Skilling may get an early release from prison – and that “rogue trader” Nick Leeson is out of jail and back working in finance – aren’t going to change a perception the system is rigged, or at least badly broken.
Second, the minutes of the FOMC’s March meeting were accidentally released last Tuesday about 19 hours early. More tellingly, they were released early to approximately 150 individuals, including congressional staff members and lobbyists for some of the biggest Wall Street firms, including Goldman Sachs, Citigroup, Barclays Capital and Carlyle Group.
Apparently, it’s standard operating procedure for Fed minutes – along with other sensitive data – to be sent to such individuals on an embargoed basis.
“I wonder why this information is offered to anybody outside of even the president,” Jon Najarian declared on Breakout, prompting my colleague Jeff Macke to note that information about Oscar winners are treated with greater security than the Fed minutes.
The “Fed Flub” is certain to reinforce a notion there’s a Washington-Wall Street cabal running the country exclusively for the benefit of a select few.
Right or wrong, President Obama’s meeting last Thursday with the CEOs of Goldman Sachs, JPMorgan, Bank of America, Citigroup, Morgan Stanley, Wells Fargo and AIG adds further fuel to such perceptions. And while President Obama has a reputation for being anti-Wall Street, his actions have never matched the “Fat Cat” rhetoric, as I’ve long argued.
As you’ll see in the accompanying video, Henry Blodget believes the real reason investors remain wary of the market are memories of two 50% declines since 2000. In addition, he believes individual investors are better off sticking to index funds vs. competing with pros who have an asymmetric information advantage – even without resorting to illegal activities.
Academic research suggests Henry is 100% right about index investing. My point is the continued revelations about insider information and other illegal activity at the highest levels are scaring a lot of investors from even doing the basics.
Aaron Task is the host of The Daily Ticker and Editor-in-Chief of Yahoo! Finance. You can follow him on Twitter at @aarontask or email him ataltask@yahoo.com
nonamespecifiedComment Guidelines
Let's acknowledge reality - Wall Street has nothing to do with the 'real economy' of goods and services that the Average Joe is familiar with, they are a cabal of autistic savants dealing in mathematical fictions for fun and profit.

475 comments

  • nonamespecified
    0users liked this commentThumbs UpThumbs Down0users disliked this comment
    nonamespecified • a second agoRemove
    Let's acknowledge reality - Wall Street has nothing to do with the 'real economy' of goods and services that the Average Joe is familiar with, they are a cabal of autistic savants dealing in mathematical fictions for fun and profit.
    Reply
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    G  •  1 hour 25 minutes ago Report Abuse
    The real question regarding all of this is, What has really changed? If we go back over the last 30 years to the present, not much. Its then an economic soap opera. Whats the next installment in the continuing story of rose hill. Has there been change for the better in all levels of government? Is a one world economy a good thing. Is a one world anything a good thing?
    Reply
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    jasonhad  •  1 hour 43 minutes ago Report Abuse
    When all the super-intelligent beings and high-volume traders of Wall Street head for the exits at the same time, as happened in 2008/9, the market collapse destroys pension funds, IRAs, 401ks, and the little investor. Small wonder we minnows no longer want to venture into the waters of Capitalism, now no more than a rigged casino with charlatans telling you that by real investment analysis you stand a chance of not being devoured. We are tired of being fleeced by the cabal of investment houses, the Fed, the Hedge Funds, the quantitave traders. Screw Capitalism !!!
    Reply
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    Juan  •  3 hours ago Report Abuse
    Buy low sell high....:D
    Reply
  • 0users liked this commentRate a Thumb UpRate a Thumb Down0users disliked this comment
    Kathy  •  4 hours ago Report Abuse
    Maybe, we just don't care any more.
    Reply
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    Mustafa O'Flynn  •  5 hours ago Report Abuse
    Stock minipulators should be dragged down to main street then tarred and feathered. Manipulators can be inside traders or those "bum dope" artist in the news media.
    Reply
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    DiscJocky  •  6 hours ago Report Abuse
    Folks, you have no more safe places to park your cash. Gold is getting crushed along with Silver. I had my clients selling Apple at $700. Google is a big bubble waiting to happen. Microsoft has no clue. Tell me something, can you walk into Best Buy or any electronics store and say to yourself, I need to buy that...? No, that is right...Face reality, nothing on the market today makes me go WOW..I need that..This country is so far behind in technology, they cannot bounce back. Come on, the iRing from Apple, that will be the day...Please, look what these companies are coming out with, JUNK...! The CEO's and Executives have no clue anymore...SELL...The DOW is headed to 7500...
    Reply
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    DiscJocky  •  7 hours ago Report Abuse
    Over 15% of Americans are on Food Stamps as reported by the White House a few weeks ago. This puts the number at over 45 Million U.S. people struggling. Add this number to the unemployment numbers, we have over 100 Million U.S. Citizens out of work or on Food Stamps while Obama made $50,000 a month last year, upwards of a $700,000 Salary, getting paid to go on vacations must be nice...! SELL STOCKS...DOW Headed to 7500 soon...! Get out of the way...SELL
    Reply
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    gomer pile of  •  8 hours ago Report Abuse
    I absolutely distrust the markets. I know that Wall Street is manipulating the he!! out of it. High frequency naked shorting, debt swaps so that the brokers don't have to buy in every 3rd day to cover their shorts like they are supposed too. Spoofing the market = posting orders that they never intend to execute, just to mess with price. 5,000 different order types to game the market. No regulation. If and when they get caught, punishment is very small, and hardly anyone go's to prison. Their is no reason to trust the market, because their is no reason to trust the people in the financial system, including the auditors, and rating agencies.
    Reply
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    yahoo user  •  8 hours ago Report Abuse
    Hind sight is 20-20. For the 22% who trust the financial system, try googling "fed $16.1 trillion" and read a few of the articles. If you do, the number of people trusting the financial system will drop to closer to 1%.
    Reply
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    Joe  •  9 hours ago Report Abuse
    Too much wealth concentrated in one asset class. Do people really think that stocks are just going to go up forever? Bernanke is an idiot on top of it all.

Saturday, April 13, 2013

social security vs annuity



If your Social Security payments are scaled back, or worse, what would it cost you to buy something similar in the private sector?
We can do some math.
According to ImmediateAnnuities.com, a 66-year-old man would have to pay $128,000 for an annuity providing him with income of $10,000 for life. A 66-year-old woman would have to pay even more, about $138,000.
That's for an income of $10,000 a year. If you think you'll need $40,000 a year to live on, naturally you'd need to set aside four times as much, or about $550,000.
And this would only be for a straight annuity, with absolutely no inflation protection at all.
Few life insurers provide inflation-protected annuities. New York Life offers something close: an annuity that increases payments by a certain percentage each year. This won't protect you from runaway inflation. But at least an annual increase of, say, 3% will give you some cushion.
I asked the company how much a 66-year-old would have to pay for an annuity paying $10,000 a year, with a 3% annual increase.
The answer? About $180,000. It's about the same for men and women.
Right now, the average retiree is getting about $14,000 a year from Social Security. To buy a similar income stream on the open market, a 66-year-old would have to pay about $250,000. Someone getting the maximum benefit, $28,000 a year, would need to pay about $500,000.
It's something to bear in mind as we debate cutting Social Security. Most Americans are already grossly underprepared for retirement and have saved far too little.
According to the most recent survey by the Employee Benefits Research Institute, a think tank specializing in the topic, fewer than half of workers have even saved $25,000, and only a third have saved as much as $50,000. Forty-four percent have saved less than $10,000, and a quarter have basically saved nothing at all.
To put these numbers in context: Someone with $25,000 can buy an annuity (with the 3% annual bump) paying maybe $1,400 a year. Someone with $50,000 can raise that up to $2,800 a year. That works out to an income of $54 a week. Good luck with that.
If we want to cut Social Security, even prosperous middle-class Americans need to save much, much more. Starting about 20 years ago.
Corrections & Amplifications
The payroll-tax cut will expire after one year. An earlier version of this article incorrectly said the payroll-tax cut will end after two years.
Write to Brett Arends at brett.arends@wsj.com

Social Security Basic Facts


 
 http://www.ssa.gov/pressoffice/basicfact.htm
 
Social Security Basic Facts

February 7, 2013 (Printer Friendly Version)

    In 2013, almost 58 million Americans will receive $821 billion in Social Security benefits.

December 2012 Beneficiary Data
Retired workers
   
37 million     $46.3 billion     $1,262 average monthly benefit
  dependents     2.9 million      $ 1.8 billion
Disabled workers    8.8 million  $ 10 billion    $1,130 average monthly benefit
  dependents     2.1 million    $ .69 billion
Survivors   6.3 million    $ 6.6 billion   $1,215 average monthly benefit

    Social Security is the major source of income for most of the elderly.
        Nine out of ten individuals age 65 and older receive Social Security benefits.
        Social Security benefits represent about 39% of the income of the elderly.
        Among elderly Social Security beneficiaries, 53% of married couples and 74% of unmarried persons receive 50% or more of their income from Social Security.
        Among elderly Social Security beneficiaries, 23% of married couples and about 46% of unmarried persons rely on Social Security for 90% or more of their income.
        

    Social Security provides more than just retirement benefits.
        Retired workers and their dependents account for 70% of total benefits paid.
        Disabled workers and their dependents account for 19% of total benefits paid.
            About 91 percent of workers age 21-64 in covered employment in 2011 and their families have protection in the event of a long-term disability.
            Just over 1 in 4 of today’s 20 year-olds will become disabled before reaching age 67.
            69% of the private sector workforce has no long-term disability insurance.
            
        Survivors of deceased workers account for about 11% of total benefits paid.
            About one in eight of today’s 20 year-olds will die before reaching age 67.
            About 96% of persons aged 20-49 who worked in covered employment in 2011 have survivors insurance protection for their young children and the surviving spouse caring for the children.

    An estimated 161 million workers, 94% of all workers, are covered under Social Security.

    51% of the workforce has no private pension coverage.
    34% of the workforce has no savings set aside specifically for retirement.

    In 1940, the life expectancy of a 65-year-old was almost 14 years; today it is almost 20 years.

    By 2033, there will be almost twice as many older Americans as today -- from 43.4 million today to 75.7 million.

    There are currently 2.8 workers for each Social Security beneficiary. By 2033, there will be 2.1 workers for each beneficiary.

Last reviewed or modified 02/07/2013
 

Saturday, April 6, 2013

Bishop Spong tells it like it IS, what did Jesus really want us to do?





"do not seek for the truth, merely cease to cherish opinions" Hsin Hsin Ming - Sosan, a long long time ago in a land far far away

i.e. if you would seek the truth, the best route is to examine all your most cherished opinions.  what else is this but the story of science, the demolishing of our precious delusions?


http://youtu.be/lJICIGQl0JU

http://www.amazon.com/Rescuing-Bible-Fundamentalism-Rethinks-Scripture/dp/0060675187/ref=sr_1_1?s=books&ie=UTF8&qid=1365309639&sr=1-1&keywords=rescuing+the+bible+from+fundamentalism

The Denial Driven Life of American MegaChurchianity

Is the modern American megachurch the Antichrist?  Even worse than the Vatican?  Too many preachers with no experience of metanoia and extasis from fasting and praying 40 days and 40 nights in the desert.  We have forgotten that  being 'born again' implies having experienced ego-death first.   Hypocrisy, neurosis, depression and suicide are occupational hazards of modern American churchianity.

how about let's all read  "Rescuing the Bible from Fundamentalism"  by bishop John Selby Spong


Customer Reviews
The Purpose Driven Life: What on Earth Am I Here For? (Purpose Driven Life, The)

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78 of 99 people found the following review helpful
1.0 out of 5 stars popular christianity, August 1, 2005
By
Joe Smith - See all my reviews
This review is from: The Purpose Driven Life (Hardcover)
Rick Warren really isn't a christian. He views christianity as a turnaround CEO would a business that isn't profitable enough. He sees the problem as being one of a bad message and a poor entertainment experience.

As far as the message, he dumps the old message in favor of a new one: The church is a business and the members are employees. The church leader is the CEO. A chain of lay "managers" is created within the church and each manager is given an employee handbook (the purpose driven life) to train his group of direct reports in how to be effective church members.

It works very well because the methods are adopted directly from the day-to-day life in corporate america. In some churches, its hard to tell the difference between the work-week and church because its all the same thing now.

To motivate the employees, the church focus is on making them feel good and useful. They are kept away from concepts that might make them question their values or hurt their self esteem. The goal of the church is to grow and their purpose in life is to grow the church. Nothing else is required of them.

Worship degenerates into a professional stage show and business leadership seminar. This is very effective because it reduces the church to something passive and harmless in people's lives. Its also something they can put out of their mind during the rest of the week.

The other new trend among Rick Warren and his sort of Church is that they have figured out that its much easier to recruit people from existing churches than it is to bring people to god. Its not easy to grow a church to 10,000 from non-believers. It takes alot of work. But it takes far less work to go recruiting in existing churches. The lure is that Rick Warren has such easy answers. The extent of the law for Rick Warren is "do whatever you want as long as you show up at church". There are no obsolete commandments to get in the way of modern life, there are only "purposes".

What would Rick Warren have done in the time of Christ. Well, first he would have told Christ to "stay on message" and to stop saying such confusing things. Then he would have gone down to Jerusalem to negotiate a deal with the romans. The romans were businesmen and certainly a deal could have been worked out. He would have also had a sit down with Christ and explained to him that he needed to act more like a CEO. He needed to settle down in Jerusalem and trust his disciples to do the footwork. He needs to concentrate on the CEO-type issues like politics, raising money for building projects and growing the business.

Rick could have then gone down to the temple and made a deal with the Pharisees. He could have pointed out the possibilities for marketing the temple more effectively. Businessmen should be invited in because as far as retail space goes, the temple was top-tier. The temple was also virtually unused most of the time and could have been opened up for plays, concerts and perhaps even sporting events.

Think of it! If Christ had understood Rick Warren's message, christianity could probably have taken over the whole world without Christ having to die and all those regrettable deaths in the first two centuries.

But thats the point. Jesus Christ didn't come selling easy answers or business solutions. He died because his following wasn't a mass movement. In the end, the crowds and even his own followers deserted him. The message was successful after not because it was easy and not because it was hip, it was successful because it offered truth, hope and meaning in a pagan world.

Rick Warren and many others can fill Churches up with bodies but in the end not bring one person to god. The ministry of Christ is not just signing up as many people as possible to go to church for a few months and donate money to an endless series of new building projects. Rick Warren is so obsessed with money, growth and power that when I listen to him, there is nothing of the message of Christ left in him or his words.


131 of 160 people found the following review helpful
1.0 out of 5 stars The Purpose-Driven Bandwagon, August 25, 2004
By
C. Gracey

I recently led a small-group study of The Purpose-Driven® Life. I started with no preconceived notions, but long before I reached the middle of the book, I was ready to throw it out the window. Only my commitment to the group kept me going to the end.

This book plays to those who are looking for easy answers, to those who believe the keys to living a faithful life can be reduced to a Purpose Driven® bumper sticker or bookmark . The book does contain much useful content, but it suffers from major problems, both substantive and stylistic. These include the following:

1. The author uses an alliterative bumper-sticker style of writing-"planned for God's pleasure", "formed for God's family"-that quickly becomes very annoying.

2. Content is repeated multiple times in an attempt to artificially fill a symbolic 40-day structure without 40 days' worth of material.

3. The book is highly commercial, with a trademark in its title and a bunch of offshoot products that the author does not hesitate to endorse throughout the book.

4. The author quotes Scripture out of context and massages Biblical content to suit his purposes. For example, to show how God can bring good out of evil, he says, "Ruth [a non-Jew]...broke the law by marrying a Jewish man" (p. 196), yet nowhere in the Book of Ruth is she accused of any wrongdoing, let alone "evil." (At the very least, it would be her Jewish husband who broke Jewish law, not Ruth.) This manipulation of the Bible means that conscientious readers cannot just trust the quotations and examples as presented. However, the tedious page-flipping required to read the endnotes means that many will quit checking the sources.

5. The use of different translations of the Bible is effective in bringing freshness to familiar passages and making Biblical language more accessible. However, the author relies too heavily on The Message, which is a paraphrase written from a particular viewpoint, rather than a true translation.

6. Christians who were baptized as infants and have grown in their faith without a specific conversion experience should take exception to the author's view that "the only way to get into God's family is by being born again into it (p. 118). Warren makes other sweeping theological statements that many faithful Christians will not agree with. It is ironic that many churches whose teachings Warren would seemingly reject are jumping on the Purpose Driven® bandwagon.

On the positive side, let me say that the book provoked great discussions in my college-age Sunday School class. In rejecting Warren's approach, these students have been forced to examine their own beliefs and the teachings of our denomination.


68 of 84 people found the following review helpful
1.0 out of 5 stars What on earth is Rick Warren teaching?, June 3, 2006
By
Theophilus - See all my reviews
This review is from: The Purpose Driven Life (Hardcover)
The Purpose Driven Life is a sad reflection of the current state of American Christianity. It has little in common with traditional Protestantism of either the mainline or evangelical variety.

This is light reading. Basically it is a self-help book that uses Christian vocabulary to communicate a 40-day program of personal self-improvement. At best it is harmless. At worst people may mistake it for true Christianity.

If you must read this book, then at least balance it with a thoughtful critique, such as "More Than a Purpose" by Marshall Davis or "Reinventing Christianity" by Bob DeWaay.